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supplied to the economy by the fed and the stock market has had a lot of the crazy stock is replaced by a larger bubble in the real estate in which we expanded this economy based on all of the false rules while people were spending money that they don't have come in and we have a lot of consumption and employment that was a function of the wealth. that bubble burst and now all of the achieved money that the fed was creating was going into the government through the bond market. the government was able to borrow enormous amounts of money and all true low interest rates thanks to the fed coming and now we have an economy that is dependent on all of this excess government spending in the cheap money and you can see it in the price of the bond but like the two prior bubbles it is going to burst and unfortunately what it does, the consequences for the economy are going to be much worse than they were when either the real estate bubble burst or the stock market bubble. >> and again, the 21st, the so-called private sector baubles, what was the federal government role in your view in creatin
the problems facing the u.s. economy for about an hour and 45 minutes. next on book tv. [applause] >> thanks to the fashion institute of technology. unquestionably the most in the world today. [applause] in addition to being nobel laureates i would have to say from the vantage point for the economic thinking those would be my finalists. [applause] as you know, we've written a book that pertains to the challenges and circumstance the price of an equality. on behalf of them i thank you for your patronage and. let's start with paul. paul, you talked about and this depression now. a lot of people don't believe we could end this now. but agency deutsch human beings have to take on this challenge? something that is recognizably the same kind of animal. we victimize it is the same technology still there and skills are still there. look back to the 1930's and there are a lot of people making the argument that there were no easy answers and you could quickly get out of this [inaudible] and the 1939 and these are fundamental problems and if we want to make progress to cut unemployment benefits and thi
of the excheck kerr. >> mr. speaker, it's taking time, but the british economy is healing. [laughter] after the biggest financial crash of our lifetime, people know that we face each problem at home and abroad. at home we live with the decades of debt and the failure to equip britain to compete in the modern world. and we face a multitude of problems from abroad. the u.s. fiscal cliff, the slowing growth in china, above all the eurozone now in recession. people know that there are no quick fixes to these problems, but they want to know that we are making progress, and the message from today's autumn statement is that we are making progress. it is a hard road, but we're getting there, and britain is on the right track. >> will the chancellor resume his seat. now, look, let's be clear about this. the house knows well enough by now that i will afford a very full opportunity for questioning of the chancellor. but the more interruption, the greater the noise, the longer the session will take, and that cannot be right. so i appeal to members, please, to give the chancellor a courteous hearing as,
are transforming the global economy." he was in atense for the fall for the book festival held annually at the university. it's about a half an hour. >>> now joining us here at george maison university is professor philip auerswald. the most recent book is "the coming prosperity: how entrepreneurs are transforming the global economy". here's the cover of the book. professor, what role does -- play in economic development? >> well, that's a great question, and maybe i'll talk about what role does fear play in our conversation about. the conversation about the present. when we talk about our reality and share our idea in a marketplace, we're competing with other ideas. we know three things about marketplaces for ideas. short term sells better than long-term, fear sells better than hope, negative sells better than positive, and exaggerated sells better than moderated. so we see a disproportionate number of short term narrative of negative, exaggerated stories essentially. so short term negative exaggerated. that is overrepresented in the marketplace of ideas. there's good reason for that.
together but clearly the asian economies are thriving and growing faster and their version of capitalism which is a much bigger role for government, which has government playing more of a straw role in picking winners and losers, determining who gets educator and how they get educated, those forms of capitalism seem to be gaining the upper hand in the global debate and we have to recognize if we don't address the flaws in our own system like the flaws associated with any college or the inability to create jobs for the free rein given to big investors at the expense of everybody else we are going to lose our influence, the model is going to change and we're going to be at a disadvantage. >> host: what is china doing right? >> guest: they are growing fast. by 2030, china is the second-biggest economy in the world right now. we think of it as an exporting economy but their growth has been internal. by 23 which is not that long way although it sounds far away, they will be the world's largest consumer economy. they will be the ones setting the trend in terms of one car is like and what a was
, it is not a recession, it has been building for decade-sapping the ability of the american economy to grow, and the average american to rise. to make the u.s. less competitive, less attractive for business, we go back to the fiscal cliff discussion over and over again because unless we get the economy really moving and growing in a long run, these budget problems will occur over and over again. we have identified eight areas where we find, these things would move the needle in a reasonable time frame, two or three or four years we start to see impact and there's quite bipartisan support. and the sustainable budget compromise. number 2, easing immigration now. we need a broader immigration reform, but it is one of the abilities to move rapidly to inject skill to the economy to fill jobs we badly need to fill to sustain our growth. it is not long term solution to the skill problem in america but a critical step we need to take to move the needle. we have got to simplify and realize the corporate tax code. everybody agrees. we just did a survey that included a loss of members of the general p
on the american public as was mentioned in the last session, the economy is international in the way it was not in 1990. that is, we can talk in 1990 about raising corporate taxes and lowering the tax on dividends, for example, which was one of the policies suggested during the 1990s discussions that came in effect in 2003. that's just completely backwards today. that is to say corporations are facing international competition and downward pressures on taxes at the business level that are not faced by individuals op their receipts, and we would be better off today if we had a lower tax at the corporate level and much higher tax at the individual level rather than what we have now which is the opposite of that which brings me to another major lesson is do not let policy become hostage to deficit numbers. that is, you have to think hard about what policies will allow the united states to achieve growth needed of fair distribution of the tax burdens and spending programs that the united states is engaged in. adequate revenues to match the spending that we're going to have. there are dif
a share so many in common -- an economy and larger value system. we share security needs and we share security threats. when you have a relationship that close, it cannot help but be good. it has been good. i look for to four more years of working with president obama. >> you just returned from asia. you seem dead like them in a little jet lag. >> president obama is in asia. his first trip when he was elected was here in ottawa. his first trip for his reelection was asia. you both you asia as important both of you are committed to enhancing free trade. you are looking at 50 trade deals. i wanted to ask you -- when our organization was founded 25 years ago, we were founded to be a proponent of free trade. there are not enough voices on either side of the border that point out the benefits. that is why we started it. my observation is that canadians are more open to free trade than americans. their message is of protectionism. what are your observations? what do you attribute the difference to? >> in negotiations on trade agreement -- we are and 50 to go she asians. one is with the euro
the kinds of revenue from the wealthiest americans to help the economy grow and achieve deficit reduction and this puts us on a path towards a better economy. >> [inaudible question] what will he do at this moment? >> i would simply redirect that question to the republican leaders, who to this day, have not put forward any proposal on how they would achieve revenues and address the issue on the top 2%. there is no other way to do it, there is no other mathematically sound way to do it. making vague promises about achieving revenue through capping deductions were closing loopholes, it simply doesn't add up to a serious proposal. we haven't heard which deductions they would cap or which loopholes they were close. what is true is that other proposals that have been put forward include attempts to raise revenue only through closing loopholes and limited deductions can only achieve this if the middle class gets stuck with the bill. or if you have a proposal that is wildly limply unfeasible because it suggests that we would wipe out charitable deductions. it is simply impossible and getting som
of the biggest thing is that is killing the economy is something so big you got to say to yourself how come they can't take a little bit less to back up on its seat? >> guest: i am going to disagree with you a little bit. if you look at the percentage of investment, the exploration production of energy is very heavily involved, it is a very expensive item, and their profits are five to 8% on what they actually invest. microsoft and intel are much more profitable and they pay less in taxes than the percentage of the total revenue. so, people always focus on the gas prices. look at your heating bill. the natural gas movement brought down the price of natural gas about 80% of what we produce in terms of my state. it's about a quarter of what it was three years ago. that isn't always a good deal for the american people. it's actually bringing the industry back. this industry which is often vilified quite frankly is the one that is generating more jobs, more income, more opportunity than almost any other sector and it isn't as profitable as the high-tech. >> host: nelson in colorado springs. >>
countries. i not agreebama and i on everything. these countries a share so many in common -- an economy and larger value system. we share security needs and we share security threats. when you have a relationship that close, it cannot help but be good. it has been good. i look for to four more years of working with president obama. >> you just returned from asia. you seem dead like them in a little jet lag. >> president obama is in asia. his first trip when he was elected was here in ottawa. his first trip for his reelection was asia. you both you asia as important both of you are committed to enhancing free trade. you are looking at 50 trade deals. i wanted to ask you -- when our organization was founded 25 years ago, we were founded to be a proponent of free trade. there are not enough voices on either side of the border that point out the benefits. that is why we started it. my observation is that canadians are more open to free trade than americans. their message is of protectionism. what are your observations? what do you attribute the difference to? >> in negotiations on trade agr
's credibility, and it's important for america's economy and economic growth. that plan has to be balanced and that means significant revenues, and it has to go around. typically that means the wealthy and well off have to pay their fair share as well. again, these are not new issues. they are ones that were debated. they came up in every debate. even foreign policy debate. and so we think that the american people are on the side of the president and democrats. that is not to say -- [inaudible] we want to remind everyone that there's already been a trillion dollars, over a trillion dollars in spending cuts. and so that is a significant part of this debate, because it happened last year. but just because washington has a short memory doesn't mean we all should have one. and that there's already been sacrifice on behalf of through those discretionary cuts. we are particularly excited doing a lot of work on the fiscal cliff. we talked about medical savings through the programs, address rising national expenditure. will have more to say on taxes, but we are ecstatic to have senator durbin here
that this is a self-inflicted wound on our economy, you're exactly right, our current policy. we're educating brilliant students and then compelling them to go to work in shanghai or singapore rather than san antonio or the silicon valley. meanwhile, we're handing out tens of thousands of diversity visas to immigrants chosen by a random lottery, without regard to any qualifications they might when it comes to job creation and entrepreneurship. it makes absolutely no sense. i believe we need an immigration policy that serves our national interest. and if there's one thing that we need more than anything else now is we need job creators and entrepreneurs in the united states. and we know in the -- in the global economy, it's people with the special skills in science, technology, engineering and mathematics are the ones that are going to help us create jobs and grow the economy. not just for these individuals, but for the people that are hired by the start-up businesses that they will create. the stem jobs act would mitigate the problem with the diversity lottery visa which, again, does not dist
that raising tax rates would be counterproductive at a time when our economy is -- is so weak and there is another opportunity here and that's for tax reform. the jobs crisis and the debt crisis are linked and the president's made that pointed. he sai-- and the president's mat point. he said that his priority in the grand bargain discussions, the fiscal cliff discussions is to make sure that we encourage economic growth and jobs and so we should use this as an opportunity to address the underlying problem as that are holding back our economy. an economy that's in tough shape today. unemployment is still stuck just below 8%. the projections c.b.o. have given us for next year, by the way, are continued anemic growth in the economy and, in fact, unemployment actually going up, not down. the economic case against just imposing higher taxes is really overwhelming. we all know if you tax something, people tend to do less of it. that's one reason why smoking is taxed, to push people to quit smoking. so i want to raise taxes on working, on saving and on investing. instead, we should e
the world as a very effective way of ensuring a decarbonization market driven way of our economy, and we've just published an energy bill and to let the control framework that would allow for new renewable investment to the rest of this decade. the industry has that, alongside the cast strategy. on the decarbonization target, as they say we're going to take a power in the bill to set a target but that would be a decision for after the next carbon budget which happens in 2016. that is a perfectly sensible and rational approach to take. >> cannot congratulate the chancellor on his statement that fair, transparent -- [shouting] >> is not only not rising but is falling in every year of this parliament? with 19 days to christmas, mr. speaker, can ask the chancellor which the family-friendly measures whether scrapping the fuel duty increase, freezing tax are raising the personal allowance next year he thinks will be most benefit for the family? >> what i would say to my honorable friend is with have to take some difficult decisions. we've had to take difficult decisions on welfare of bring alo
cut down the economy. our friend, not warren buffett but the other guy. a great conversation, ralph nader has been by. years ago -- >> what did he learn from his -- >> did me a favor of not bothering me with his problems which was great that spin too much time trying to make money. >> a useful friends with him? >> i never said anything about him. >> as we go, you have an unusual hobby. you, something unusual. >> i have a collection of backers. also have a collection of airsickness bags. one thing i do ask people who come to the meeting, very helpful if you are traveling, you have an airsickness bag which the free present government afghanistan air sickness bag, so it is a great collection and somebody mentioned years ago in a profile starting in an e-mail, this is -- and odd quirky thing i did. >> what is the mood at the meeting going to be? >> people are very optimistic. people were disappointed because we didn't have the house senate president and then people thought we were going to get the president in the senate and stock didn't go up. we elected a house stronger than the last
are an economy that is driven by consumer demand. i cannot think of anything that would be more guaranteed to put the economy in a recession than increasing the price of all goods and services that we purchase by 20-25%. >> host: we'll give brad on twitter the last word here. he says negotiate and simplify, let the republicans lower taxes and get rid of the amt. john buckley, thank you for your help this morning in helping us try to understand the alternative minimum tax, appreciate it. >> guest: okay, good. >> in a few moments, a discussion of house spending cuts in the so-called fiscal cliff. in a little less than an hour, more about the fiscal cliff with republican representative tom cole from oklahoma. then the head of fema testifies on capitol hill about the government's response to hurricane sandy. and later, senate debate on the u.n. treaty for the disabled. ♪ ♪ >> this weekend on c-span3's american history tv, follow harry truman easeleddest grandson to hiroshima as the city prepared to mark the bombing of the city in 1945. >> you know, everybody has their own view what happened, and
for the workplace. we are not going to be the world's most innovative economy. second, in some ways, more surprising for me, it was brought to us by the former chief of secretary of the army, who talked about the problems in our education system and the relationship to the armed forces. the inability of some 70% of americans actually qualified for service in the armed forces ought to be a red flag for anyone. now, yes, there are other reasons for that. incarceration, obesity, but a fair amount of it is that the people can't pass the basic skills test to get into the military. so just imagine a country -- a developed country, a powerful country in the world. and we can't get the basic tasks. analyzing data secretary of state is realizing how few people how -- how they learn foreign languages, the fact that we don't have people who are prepared to go into the intelligence agency and we are lobbying ourselves appellate in literally the national security infrastructure of the country. so most importantly, it is a tragedy that people will not be prepared for a good job and will therefore have nowhere els
is in terms of how the economy is going to perform and was going to happen to the trajectory of house prices. in environment with strong house prices in this market are generally rising, i agree a very low down payment will accumulate down payment for a reasonably steady income. so the risk of default is manageable and recovered within the premiums. the problem is if we feel we are in an environment of slower economic growth so there's not a lot of wind under this is about which means the possibility you can have recessions is more likely because you're starting for me lower growth rate in house prices that may in fact for a period of time be in a much lighter treasure to read. then i think it is a case or a question about whether the low down payment program is necessarily the best for the borrower when you factor in -- here's where i was a down payment actually does matter because it combination of a borrower if they lose their job and can't make payments being able to sell the house half the loan is really determination of whether you're going to default. if there's a no down payment of p
president obama's deep cuts will have a deep effect to our economy. he used the word dwast stating. snowing this how could anyone support depleting another $1.8 billion from an already stretched budget? president obama's climate chief defended the green fleet by arguing even a dollar rise in gasoline prices would cost d.o.d. $30 billion. believe my good friend, the senator from colorado said essentially the same thing. i agree with that. if every $1 rise in gas prices cost $30 million, a $27 increase would add up to about $660 million so that argument falls completely flat in realizing the economic angle is a political hoozer the obama administration has tried to say it's about national security in getting off of foreign oil. that's where i want to get. i spent several years as chairman of the environment and public works committee and several years as the ranking member. all during that time people keep saying the one thing we all agree on is we need to be off of foreign oil. we need not to be dependent upon the middle east. and yet right now we know and no one is going to refute this fact
coverage on c-span2. >> thank you the government has taken action to protect the economy to achieve strong sustainable and balanced growth. because of this action in over 1 million private sector jobs created across the uk since we came to power. >> in the interests of the honorable gentleman let's have a bit of order. mr. andrew sullivan. >> in two years this government has greater 1.2 million net new private sector jobs, nearly double the amount the last government created the last 10 years. how have we done this in wales? >> i'm very pleased to inform the house we are seeing similar good progress in wales. an estimated 60,000 additional private sector jobs have been created in wales since may 2010. >> order. questions to the prime minister. henry smith. >> number one, serve. >> thank you, mr. speaker. i'm sure before answering the whole house will wish to join me in expressing our sympathies to the terms of the appalling flooding we've seen across our country in recent days. and also in getting support and praise to our emergency services, the police, fire, and the service and invited a
will have a fundamentally adverse impact on the global economy spent it's doing it now with china and japan. that's interesting, as you've got two of the biggest economies in the world in a nightmare situation that raises a fundamental question, and it's of ending this myth that economics draws people closer together. part of the title today is "mischief or miscalculation?." during the cold war, what was interesting is you can have 17 different spheres of contact with the soviets and if two and if to implement you it's about 15 others. there was a lot of heavy investment figuring out how to communicate and how to coordinate, how to deal with escalation, how do you talk about that. and in this era, when i look at the amount of time, particularly in the obama administration, even more so than the george w. bush of administration, you look at senior officials who go to asia, throughout the region, and also the discussion and attempt to courtney with china. there seems to be a lot of that to try to coordinate. but again coming back to jim steinberg was the fourth member of this panel would happ
when, as we all recall, our economy was thriving. under the senate-passed plan, a family earning $255,000 a year would pay an extra 150 bucks in taxes. in opposing the middle-class tax cuts act, republicans claim that it would hurt the economy to raise tax rates on the top 2% of income earners. speaker boehner reiterated that line last week, saying, "it will hurt small businesses. it will hurt the economy." well, that is vintage republican political theory but it's just not supported by the facts. in a recent report, the nonpartisan congressional budget office estimated that extending the middle-class tax cuts would boost our national g.d.p., our gross domestic product, by 1.25% next year. it said the economic effects of extending only the middle-class rates are similar to those of extending all of the rates. why? because upper-income taxpayers are less likely to spend their tax savings back into the economy. in other words, c.b.o. reports we would get virtually no economic bang for our federal buck by extending the upper-income tax cuts the republicans are fighting for. c.b.o.'s anal
. businesses are starting at higher rate than any time in our history. this economy is on the right track. we are equipping britain for the global race and on like the party opposite we are in the side of people who work hard and want to do the right thing. what is the answer? more borrowing, more spending, more of the things that got us into this mess in the first place. >> mr. speaker, years ago the nhs spent five hundred million pounds on tamiflu without seeing the day on the effectiveness or safety and rather than being an isolated case it is normal for the drug industry to have almost complete control over the evidence based upon which crucial public decisions are made. will the prime minister asked to make available the full chemical study reports on tamiflu so the doctors, patients and taxpayers are not misled? >> my hon. friend does excellent work on behalf of the taxpayer through all of the very good questions and work that he does. he raises an important issue not only because of the cost to the taxpayer but also because of possible overstatement of benefits to patients. there does
economy. his most recent book. booktv of location at george mason university. >> tell us what you think of our programming this weekend. you can freeze us at booktv, comment on our facebook call or send us an e-mail, booktv, nonfiction books every weekend on c-span2. >> at the end of world war ii we had twelve million men under arms. we have 2,000 flag officers and generals. today we have 1,000 flag officers and generals and 1.2 million under arms. the ratio is totally out of whack. we almost have an admiral for every ship in the navy. not a captain, and admiral. what we have done is go through and look at areas where we could not necessarily save all of the money but we could transfer responsibilities that are not truly in defense of the country out of the pentagon and consolidate programs and save a significant amount of money. >> you can talk with oklahoma senator tom coburn about the fiscal cliff, affordable care act and the future of the republican party on booktv's index. the senator has written several books and reports including his latest, the debt bomb. join our freedom our co
about it except continually make the economy work while we let the liberals destroyed and then we come in every two years and fix it. but right now -- [applause] common sense is viewed as intolerant. the nicest thing you can say to somebody no matter who it is is to get a job. the nicest thing you can say. when you're walking down the street and there's a guy panhandling and you say get a job, you're complimenting him. you are saying that you have the will and the means to get a job. but now these days if you say that, you are seen as mean and intolerant to assume people have the power to act of their own volition. that is where we are at now, that we can think of ourselves as a person he can take care of themselves. you are a bigot. i never thought i would see compassionate conservative thing. do you remember that? the hat fell off. the compassionate conservative is redundant. being a conservative is being compassionate. it just takes the extra check for people to realize they're in believing something that is better for them. calling somebody a compassionate conservative is like call
it is not growing as fast as the economy over time that is a highly acceptable result as far as i'm concerned. and secondly, i would simply point out because revenues are the main bone of contention, i think, i would simply point out that it would be good to remember that in the past forty years we have never achieved a balanced budget in this country except when revenues were equal to at least 19.8% of gdp. and i think there's a lesson in there for anybody who wants to learn it. i've got some other observations, i would rare wait with them. >> thank you very much, mr. chairman. congressman frenzel you were the ranking member on the committee. you gave me a comment when i asked you to participate when you were in the minority in the minority but you did vote for the final package. i don't recall if you voted for the first package. i assume you did. welcome and thank you for your willingness to share your memories of that agreement. >> thank you. all the sponsors here, i'm honored to be sitting in a nice senator's seat with the luminaries who work so hard on that adventure, and first i think i
the economy. >> the diversity of fuel sources as well as efficiency travel parallel to the interest of the environmental policy in my judgment. >> we did, the congress did agree on the standards and the administration has continued to work in the industry to move those numbers up even more so there is a classic example of how we did something. >> i wondered if the recommendations you are making i understand that you are trying to bring together all these agencies across the executive branch whether they are of the legislative branch is a very much partner in this. how do your recommendations bring the congressional leaders and to coordinate with them as well as the executive branch leadership? >> we will recommend that this would be institutionalized or created also legislatively. but i think the congress will benefit from what our council would come up with. congress would benefit from. i guarantee you with the members of the congress particularly the senate we looked at the quadrennial report and we know what the result was of that in that study analysis of what we need going forw
that encourages us to make homes more and more expensive because it is good for the economy, without thinking about what it does for those of us who are looking to find homes in america. [applause] >> hanna rosin. >> these guys did a great job laying out the issues so i will just allow story but before i do that i want to say because i am from washington and because it is halloween and because i have three children, all of them love to trick or treat our will report that the most popular costume that has come up lately is binders full of women. what this halloween costume looks like is you put your arms in the binder, it is not a jack in the box but jacqueline in the box and jacqueline pops out of a folder in the halloween costume. who said we were dull in washington? we are very creative. i am going to tell the story that inspired me to write my book. this began in 2009. the book is based on an atlantic story that came out in 2010 and basically i had been vacationing in a town for a long time which was a prosperous working-class town and one year i went there a bit seemed there are not many
for the next many years. the amazing work you did with all of us on fuel economy standards and enforcing the clean their act, which i just want to say unfortunately those two are not candidate dress. if they were here, i would address them. colleagues here and others stopped many who try to roll back the clean air act as it pertained to missions coming from utility and other polluters. i was critical because we want to be much more direct. i don't speak for anybody else on how we approach this. i just feel people have to understand that the promise that we made and we have initial studies show the progress we've made only because we fight so hard rolling back of my colleagues on the other side but the environmental writer after environmental writer. and if they don't see from superstore and sandy, the future if we just go along, i am very disturbed for our children and our grandchildren. i just want to thank you, senator whitehouse for your amazing leadership day after day. people don't know every time they see me. i so agree with you and with your determination. rhode island is very det
in one area for economy of force. they're going to be dispersed to be effective, and that requires a lot more presence. it depends on how scoped i think our national command authority says this is exactly what i want you to do with the mission set. that'll probably drive, okay, it won't be guys like me, it'll be joint staffers who are doing the real science and math on this on exactly what formations, what capabilities, and, therefore, how many civilians and military need to remain. i think that if you go to one end of the spectrum and go with just a few thousand soldiers, that's not enough to really secure yourself or do either too well. i think that's what my own research is doing. talking to a lot of smarter people in the week here in the capital region. if you go very large, you could run the risk of having the security forces from afghanistan become too reliant in those areas upon us because we're there taking care of them. i think they can be mitigated, i really do. there's got to be a really good, i think, science to exactly how you approach troops to task based upon the missions
will be able to be more prosperous and able to help others protect our economy from reckless and dangerous spending that is going on now, and that we protect the integrity of our legal system from erosion. i conclude this treaty is unnecessary and dangerous as to our sovereignty. so let's do more for the disabled worldwide. i will be supportive of that. an international organization -- i think the chair. i yield the floor. let me include one more thing. i am starting to view that we as a nation need to be more legally aware of the dangers of signing agreements with foreign nations to regulate internal affairs, even if it's not -- we are not giving weaker powers. i just don't think it's necessary. i think the past that. i'm opposed to that. i think in the long run we will have difficulty. mr. president, i yield the floor and reserve the balance of my time and my colleagues would like to speak on this matter. >> [inaudible] >> mr. president, i recognize the senator from arizona for seven minutes. >> the senator from arizona. mr. president, i come to the i've come to the floor with a bit of h
been sittingr hands on the sidelines in an increasingly global and dynamic economy. this is the first administration actually since f.d.r. not to ask for the ability to negotiate trade agreements using expedited procedures. and this is something unique, trade promotion authority in order to negotiate agreements. this administration has yet to even ask for it over the last four years. last year we finally passed the korea, panama and colombia export agreements. hopefully our bipartisan actions today to boost exports to russia will signal a new chapter, for us to engage as a congress and with the administration in a much more ambitious and proactive trade policy. i'm pleased this bipartisan bill received such broad support from republicans and democrats in the house, getting 365 votes, and i urge my colleagues on both sides of the aisle to now support this legislation before us. thank you, madam president. i yield the floor. a senator: madam president? the presiding officer: the senator from michigan is recognized. mr. levin: madam president, i understand now under the existing unanimou
of vehicles from new jersey to new york city, was flooded. computation is an important part of the economy and culture in that region. the damage to our highways, transit system caused severe congestion stranding new jersey and creating delays for miles. transportation in new jersey has an impact on more than just new jersey residents. sandy affected anyone who rides our rail for drive through our state or uses products. i will be working with this committee to rebuild new jersey's transportation infrastructure to make it stronger and more resilient in addition to our infrastructure in at least two cases. flooding from sandy damage the superfund sites, leading to potential release of toxic pollution into the environment. i have a letter on the way to the epa to conduct a thorough investigation of the storm's impact on sites throughout the region and i am also introducing superfund emergency response requests which requires the epa to perform an assessment of superfund sites following any natural disaster and allows congress to appropriate emergency funding to remediator any damage, also re
economy and he rejected the petition from the virginians as did king george. by the time the founding fathers came along now we have almost half a million slaves. what could you do with them? they were largely unskilled and there were no opportunities in the south. the word out of one plantation began to another plantation. there were villages and towns and cities in the north come in and in the north people could read the slaves. there were opportunities in manufacturing where they could learn skills and serve as apprentices and learn skills and trades. couldn't do that in the south. the only opportunity for work was field hands, and then when it caught him chain was invented -- cotton shane was invented, you now have a sort of patrician of plantation owners. middle and lower-income people buying property and planting cotton. prior to that, most of the poor whites in the south were against slavery because the slaves compete for jobs. >> unlike most politicians he put his political career on the line in favor of abolition. he was the first to stand up for emancipation and he led the f
scientific things that may or may not be true but a bad idea for the economy. so that sounds a little pessimistic and i'm really not a pessimist at heart but i am -- i consider it unlikely circumstances that exist when rachel carson wrote silent spring and allowed it to have the influence that it did and i don't dig it will occur any time soon. >> one must question. we have some university students in the audience and didn't get much of a chance to talk about what it was like to pursue science in rachel carson? were there some barriers because of her gender? >> there were barriers. a woman who wanted to get a college education in the 1920s was generally thought to these pursuing that for her own personal betterment, and not for the purpose of having a career. it was to become a better wife, better homemaker, a better mother in the future. that was the object of post-secondary education, primarily. women could go into the teaching profession so carson certainly could have been a teacher and she could have taught biology or writing in the future. that would have been a career avenue tha
needing to refinance, has been crucially important to ensuring that the economy has started to heal and that he housing market has begun to heal, and without fha, a clearly we would be in a much more difficult situation in terms of the housing recovery than we are today. one slide i do want to show, and i don't know if it shows in color there very well -- is on this point of our market share and what we did and when we did it. and the reason this is important is, fha really had very low market share prior to the crisis. what happened during the crisis was a lot of-what should would call, reckless lending, subprime lending, fha didn't go there. the reason we had low market share is many people being sucked into the subprime mortgages during that period of time, and fha was still requiring 30-year, fully documented, fully amortizing loans, and so when people could go somewhere else, they did. what happened -- and it's probably hard to see for some of you but starting in 2007, 2008, if you look at the whether you -- blue bars, those are refinancing. what happened is as the market -- pr
headquarters in football stadiums although for the economy. it's usually where i get fed up. what if you guys done? [inaudible] >> yet, soccer. so they say that cheney spoke a foot stadium. what has america done for us? i will admit in a pillowcase comment i was frustrated by that and say americans invent and how thick dignities and education and the fact that there are young people alive to watch football is largely because of the people of the united states. that's kind of her difference. we've chosen a path of investment, human capital. it pays off in the long term rather than the immediacy of a football stadium. we've seen over the past several years 30 plus% decline in hiv/aids. that's not exclusively in the united states feared where the largest contributor to the end is something we should be proud of. it's huge that people in africa have that. >> last weekon monday or senator kirsten gillibrand delivered testimony on the hill and told stories of families who lost children to hurricane cindy. those hit hardest by the film testified by the senate environment and public works committee.
-americanism. because of what does happen in the global economy. let's marry those two things. recognize the states powerful country that should not be a basis of resentment. it should be a basis of our pride and the importance of the relationship we share. we have tried to project that you to canadians and i think canadians are embracing that. they can celebrate the anniversary of the war of 1812. celebrating our history and at the same time recognizing the great reyes -- relationship that has come out of that part of history. that is what we're trying to do in this country. i think canadians are embracing back. my only complaint -- we always like to have more attention in the united states. we pay a lot of attention to you. he sometimes did not pay enough attention to us. the squeaky wheel gets the grease. we are not a squeaky wheel. we recognize the united states has obligations and responsibilities that are global. to the extent -- we can do what we can be helpful in that role. >> we will and on one thing. we talked about american pop culture. there is a picture of you from a trip to the uk. yo
is over. yes, our sanctions are having a demonstrable effect on the iranian economy, but iran is still working just as hard to develop nuclear weapons. iran has to decide what it will do. will it continue down the path to proliferation and risk further crushing economic sanctions or will it end the madness and negotiate a responsible end to its nuclear ambition? the waiting game is over, and in the end, one way or the other, iran will not be allowed to acquire a nuclear weapon that could threaten the united states national interests and security interests, israel, the region and the world. i want to thank senator kirk who we have worked with on this issue for quite some time, senator lieberman, senator casey and many others who have shared their -- not only their interests, their views and for which we have tried to incorporate those views. i hope that tomorrow when we cast the vote, it will be the type of unanimous vote that this senate passed nearly a year ago that ultimately sends a very clear message to the iranians that if you seek to evade, if you seek to avoid, if you think that
the economy. >>host: how about getting rid of subsidies for farmers and corporations and big oil? >> look at the republican farm bill with bipartisan support gets rid of direct payments to farmers but also with reform on the other side with to stamp use is up 40% in two years in the middle of a recovery. 41 states had more food stamp expenditures last year over the year before. there are things to be had but in terms of subsidies it is not like they get a check kumbaya they get the same deduction but it is a different business and that is one of the things to help in the united states. so to encourage production here is a smart thing. i suspect those things are on the table but the big it loophole is the home mortgage and no taxes on health insurance and charitable giving are the big three. that will be the interesting debate. . .
of the 21st century. all right. we live in an global community interrelated cultural community, economy, which is a challenge. they are being asked to do that against the backdrop of declining resources. so i think we have to become more smarter and efficient with the resources. whether money, energy, time, motion associated with every single component of the educational institution. given the reality, every single component of the educational institution has to be evaluated based on what the return on investment of educational dollars including football. okay. so how do you do that? the way you do that is we have to go to the justification we have been using as been century. you have primary justification laws. part of it was to socialize in immigrant work force. the other major part of it is the great industrialist turn of the century were interested in football as a way to train work force for the industrial economy. they weren't folks who were physically fit. took direction, were obedient, there wasn't much room for lot ofy thinking on ate semibelie line. okay is it primary justific
in the next four years who can i trust on the economy, on social issues and foreign policy. and we live in a country that is even pli divided politically and we have close elections. our victory in 2008 was a landslide. it was clear this election was going to be closer, fwiven the economy and divisions in the country. with that being said, we still won electoral college, maybe not a landslide but a clear majority. our popular vote is 3% which is a healthy margin. and i think the reason we won is people understood where we had been economically. all of you have lived through the recession. this is not something that is an academic theory. everyone painfully lived through the recession. we are beginning to recover from that. the economy has created jobs over 5 fnt 5 million jobs which our economy is far too week but the electorate said i'm beginning to feel some progress. does that mean i'm satisfied? of course not. but i'm beginning to feel some progress and i think people thought it was a risk to go back and try economic policies that led to the recession in the first place or contribut
to the economy. the mobile industry supports 3.8 million jobs contributing $195.5 billion to the u.s. gross domestic product and driving $33 billion in productivity improvements in 2011. with all that's gone wrong with our economy over the past several years, it is important that we as policymakers nurture the growth of the economy especially where growth is already happening. and, in fact, is exploding. we need to enact smart pro-growth policies as relates to spectrum. i know that the spectrum issue isn't easy to understand or to manage, but it is crucial that we seek to better manage this scarce resource and about it is possible allocate more of the scarce resource to the private sector where it can create jobs and grow the economy. that is the reasoning and purpose behind my amendment. the federal government controls a vast amount of the available spectrum for its own use. it is probably not all as efficiently managed as it could be. undoubtedly a substantial amount could be made available to create jobs and grow the economy. one of the low-hanging fruits we can deal with plm almost imme
as possible. we must build better infrastructure. america spends just 2.4% of its economy and infrastructure compared with 5% in europe, and 9% in china. we are to have 21st century economy and live in the real world, 2.4% is not sustainable and not acceptable. we must also accelerate the replacement of natural gas pipeline. during sandy, leaking gas field hundreds of fires including places that destroyed hundreds of homes. and find as you mention so eloquently, we must stop ignoring climate change. i serve on the house energy and commerce committee. science is clear. cutting carbon emissions over the long term is key to reducing the risk of extreme weather. so i thank you for the opportunity to testify, and look forward to working together to help our fellow americans feel from hurricanes and, to ensure that we're all better prepared for similar storms of the future. thank you so much. >> thank you represented. and i would go -- welcome. >> thank you, madam chairman. very much appreciate the invitation to speak before this committee today. i am very proud to represent staten island and broo
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